MARKETING

STUDY
CHAPTER 4
Business
Description
 BUSINESS DESCRIPTION
Allows getting ideas, plans and visions
down on paper before going any
further with the startup business.

To provide an outline of what will be

further explored in the feasibility study.
What are topics to be
considered when
brainstorming?
 Main purpose of start-up business

Products and services that the business shall

provide

Intended customers/suppliers

Role of each would be-owners within the business

Future growth potential of the start-up business

and

The business in five years time

 Sample Business
Description
Airex
Business Description

AIREX is a service company designed to offer

waste management services to large and
medium-sized companies looking for
complete solutions to their waste
problems. AIREX will initially service the
city of Sao Paulo and its neighborhoods, an
area that includes more than 30% of the
Brazilian GDP.
 Mission, Vision, and
Objectives
Reason for having such:

To know the direction of the business

he will put up and;

As a foundation for the business that

will commence after discovering the
feasibility of the business idea.
 MISSION STATEMENT

Powerfully describes the start-up

business primary purpose both for
those in the organization and for the
public

Focus on the business present situation

Pronounces to the business world at

large the reasons for the start
business existence
 Well-written Mission
Statement
Informs probable and current
customers what the company is about

Specifies the business philosophy or

core values in a logical way, and

Make clear the goals and purpose of

the business.
 STEPS IN WRITING MISSION
STATEMENT

1. Express what the startup business

will do.

2. Explain how the startup business

will do it

3. Add the reason why

4. Implement mission statement

 Pepsi Bottling Group
Mission Statement
1. We have absolute clarity around what we
do. We Sell Soda. We commit ourselves to
these operating principles. Rules of the
road.
2. Drive local market success.
3. Act now. Do it today. Get results.
4. Set targets. Keep score. Win. Our success
will ensure customers build their business;
employees build their futures;
shareholders build their wealth.
 VISION STATEMENT

Describes the start-up business views

of the future.

Does not have to be constrained by the

realities of the present time
 STEPS IN WRITING A VISION
STATEMENT

1.Study the mission statement.

2. Challenge the business dream.

3. Shape the vision statement; apply the

formula.

4. Commit to the vision statement.

5. Keep your vision statement alive.

 Pepsi Bottling Group Vision
Statement

To continuously improve the economic

well-being and quality of life for all PBV
stakeholders. We define stakeholders
as all employees, our owners, our
customers and our suppliers.
 START-UP BUSINESS
OBJECTIVES

Statement of an attainable, time-

targeted, and measurable target
that the star-up business wishes
to achieve as it grows.
 As a rule, business
objectives must be:
S MART
Specific
Measurable
Attainable
Relevant
Time-based
 Business Objectives
1. Achieve sales quota by 95% this year.
2. Increase customer renewal rate by
40%.
3. Sign in 5 channel partners for 2014
4. Launch new service by the quarter of
this year.
 BUSINESS NAME
Words are incredibly important.
It should reflect name of the start up
business and the intended positioning.
It must reflect the image the startup
business want to imply.
Usually the first thing prospective
customers will learn about the new
business.
 SIMPLE RULES IN
CHOOSING A BUSINESS
NAME
The business name must have a
positive ring.
Avoid difficult to pronounce and hard to
remember names.
Create a business name that is unique.
Use a descriptive word in crafting a
business name.
Forget trends or fads in constructing
the business name.
 SIMPLE RULES IN
CHOOSING A BUSINESS
NAME
The business name should mirror the
identity of the start-up venture.
Choose a name that appears and
echoes strikingly on the phone, radio,
on the start-up business letterhead
and on the website.
Dont make a name that is too generic.
Beware of forming initials for a start-up
business name.
 Make certain the startup business can
trademark the name.

Strive to come up with a business

name that could be in due time be
used as a verb, or lends itself to the
creation of the business own
language.